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Being an early investor in cryptos, I would suggest against it.
Divide your savings in at least 3 parts.
Put 1 part in saving account. This is for some emergency purpose. Don't care about the returns you're getting on that. They are the most easy to liquidate when required.
Put the other 2 parts in 2 different investment assets. Don't rely only on cryptos. Put one part in something else. It could be anything among property, gold, silver, shares, forex etc.
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As you have stated that you are new to cryptocurrencies, stay with stable large cap coins without taking much risk woth medium and low cap coins specially ICO. But if you are still interested with low cap coins and ICO. Go with Remme and in ICO go with Neluns. Neluns has raised $78 m approx and only a few days left. They have exchange listings planned in Oct. Worth a try if you are looking for an ICO
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If there comes a bullish wave this year, Bitcoin doing 4x from present value is quite a possibility. Bitcoin can easily surpass $25k this year if we witness any such bullish trend like last year. Moreover, institutional money is expected to come in cryptos by year end. If this news has any credibility, BTC can easily give 400% ROI this year.
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With no sign of bullish trend, XRP doing 10x the present price is pretty impossible as for now. Even if there is a bullish phase like last year, 1000% returns in coming 3 months is quite difficult a task. With $5 an XRP, we here are talking about $400 billion circulating supply when at the moment the overall market cap is almost half of it.
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I won't call participating in a bounty a job. It is just a side income from an online task. First of all, it is unpredictable in terms of genuineness. There are tons of fake ICO and there is a big chance that you end up getting nothing after the work. Second, bounties are uncertain. There is a small chance that you will get good paying bounties one after the other without a gap.
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What makes a coin worth investing?
It usually is the underlying project idea and its utility in the market. ETH has utility as a smart contract and is widely being used to create cryptocurrencies, exchanges and other stuffs which means that it has potential to grow in term of demand.
Then comes the supply cycle. The supply of ETH is uncapped. But that isn't a problem because the release of tokens isn't that quick. Hence, the demand and supply cycle works nicely.
At this point, the whole market is suffering. But ETH can be a good investment at this phase.
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Most people are expecting a December (year end) bull run and most of them are thinking of selling their holdings during that time. But if the major market sentiment is of selling during that point, then i am not sceptical about a bull run during the end of the year this time.
This year so far has been bearish with short intervals of bull cycles. A bull run is definitely due but it would be sudden this time too.
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You can't expect a bull wave to come suddenly. There is a lack of volume in the market. Incoming of dollars to the market had slowed down. Manipulation is at all time high. Unless the big institutions make their entry to the market and bring in more investment, I believe market is expected to suffer a bit more. Maybe November end brings some relief.
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With so many ICOs going on simultaneously, it becomes hard to make an educative decision. You just can't throw on your money on anything. Detailed analysis is required before making an investment decisions specially in an ICO which usually have no prototype or a product initially and you are basically investing in future promises. I am quite selective when it comes to ICOs. I basically look for these 3 aspects. - Basic idea or concept
- Team and their portfolios
- The hype surrounding the ICO (usually social media presence)
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If you study the long term charts, you will notice that prices usually go up during year end and then retrace in the beginning of the new year. What I have noticed is that Q1 and Q3 are mostly bearish and Q1 and Q4 are usually bullish.
Prices have been following these trends for many years unless there is some major negative or positive news which can actually affect the market. Otherwise, this pattern is largely followed.
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Btctalk name: iram1011
Rank: Hero member
Bitcoin Wallet Address: 1D7AqyKWRt9JkEzy2dUu7J8eJ3Uu5SD6tJ
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Wear Avatar: Yes
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The RBI's blockade on cryptocurrency exchanges in India was mere a knee jerk reaction. It did create a panic when the news first came, but soon people realized about the peer to peer trading option and went all in cash transactions which turned out to be counter-productive as difficult for tax authorities to track.
But RBI is still not that concerned because the rate of cryptocurrency trading isn't that high to be alarming for the Indian economy. Also, the Supreme court is postponing the verdict because of the upcoming general election and I think a verdict is possible by the year end.
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Long term HODL isn't a solution to every market situation!
If you are in cryptos just for ROI that too in long term by taking the least risk possible, then yes, HODL is the possible option to get decent ROI with least risk. In this volatile market, a year or two years hodl can earn you good ROI. But make sure that you go for potential coins because shit tokens have a lifetime period of not more than a year.
But if you are here for quick bucks and to exploit the maximum potential, trade according to the trends. Don't let your investment sit throughout down/up trend. Make trading decisions according to the ongoing trend to maximize your profit. This do involve more risk.
Right now market is being manipulated heavily. Everything in Crypto is completely maneuvered by exchanges and their cartel friends. Without more fiat gateways, it will remain the same. Whatever TA you apply today, you'll have 50% win ratio at the best. Instead try to club TA with mass psychology and trade according to that.
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With so many ICOs going on simultaneously, it becomes hard to make an educative decision. You just can't throw on your money on anything. Detailed analysis is required before making an investment decisions specially in an ICO which usually have no prototype or a product initially and you are basically investing in future promises. I am quite selective when it comes to ICOs. I basically look for these 3 aspects. - Basic idea or concept
- Team and their portfolios
- The hype surrounding the ICO (usually social media presence)
In basic concept of an ICO, try to understand the reasoning behind the token price. What is the theory and on what price will depend in future. In team, look for how authentic and real they are. Check for their profiles on LinkedIn and try to interact with them. In hype, search about their ratings and their social media presence like Telegram group, twitter followers etc. Hype usually sells in ICOs. |
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What could be really banned if its technological ?
In many countries the VPN usage is sky high and people keep going to websites the government has banned. That is just one example, I have seen bans on all kinds of tech related stuff in some countries that people keep finding solutions to by pass that ban.
China is a huge country and yes if they allowed people to use coins the way they want and let them be the bitcoin deal would have been a lot bigger there however no matter how much you ban crypto, it is not something you can just go and ban, the things you ban are the exchanges and people can still trade OTC some how.
China didn't ban cryptocurrencies. It's a half story being used as FUD for a long time now. China blocked China based cryptocurrency exchanges from selling crypto for Chinese Yuan. They are allowed to trade crypto to crypto and you can buy and sell for Chinese Yuan as long as it is not from an exchange based in China. They are basically trying to regulate the crypto environment in their country in such a way that it doesn't effect their internal economy as it helps ultra rich to transact in overseas market. They have been putting such regualtions on online sphere for a long time now. |
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BTC is a crypto which is less volatile as compared to other cryptocurrencies and being the dominant one it tends to move the whole market according to its price fluctuation. BTC is a good buy for everyone as it gives hedge against highly volatile currency and it has been bullish when it comes to long term charts. It is not gonna die overnight which is highly a risk with mid cap and low cap coins. It is always advised to keep some percentage of BTC in your portfolio.
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No one can of course predict that with certainty. But people are optimistic about the year end. I think that investment from other assets will start flowing in cryptos near last quarter of the year. I expect a bullish season to start from October this year with peak in December. But try to take the maximum advantage of bear market by playing in future market or doing short term trades.
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The most important thing is to look for the idea and how is it compatible with blockchain technology. It shouldn't be just another product using blockchain. Then comes the product and the team. Both should be effective enough to maintain the demand in future because future potential is what keeps the coin running. After that comes the partnerships and popularity among the crypto enthusiast. You should look after all of this to choose a good ICO.
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